ExxonMobil to buy aromatics plant in Singapore
ExxonMobil Chemical Co.’s Singapore affiliate has agreed to acquire a 1.4 million-tonnes/year aromatics plant on Jurong Island in Singapore from Jurong Aromatics Corp. Pte. Ltd.
Once the deal closes, which is expected in this year’s second half, the plant will increase ExxonMobil’s Singapore aromatics production to more than 3.5 million tpy, of which 1.8 million tpy will be paraxylene.
Singapore is home to ExxonMobil’s largest integrated refining and petrochemical complex, which has a crude oil processing capacity of 592,000 b/d and includes two world-scale steam crackers.
“Our growth in Singapore is driven by the expected increase in global demand for chemical products over the next decade of nearly 45%, or about 4%/year, which is a faster pace than energy demand and economic growth,” said Neil Chapman, president of ExxonMobil Chemical. “Nearly three quarters of the increased demand is expected to be in Asia Pacific as a result of its rising prosperity and a growing middle class.”
Singapore’s integrated petrochemical complex can process a wide range of feedstocks, from light gases to crude oil. Later this year, the complex will begin the phased startup of 230,000-tpy specialty polymers facilities that will produce halobutyl rubber and performance resins for adhesive applications.
The company earlier this year approved a project at the complex to expand production of high-quality lubricant base stocks (OGJ Online, Feb. 13, 2017).